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| 正面描述 | The obverse is printed in dark blue-grey on an olive-green guilloche underprint, with an elaborate lace-pattern border framing the entire face. The issuer name 'BAYERISCHE STAATSBANK' appears in roman capitals at the top and bottom, while the word 'Gutschein' in Gothic script heads the central text block, above the large denomination legend 'Einhundert Milliarden Mark' rendered in bold Fraktur lettering. A six-digit serial number in red occupies the upper right, and below the denomination a two-line redemption clause and the place-and-date line 'München, den 20. Oktober 1923' are followed by the designation 'Direktorium:' with two manuscript signatures of bank directors. |
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| 正面铭文 | BAYERISCHE STAATSBANK Gutschein Einhundert Milliarden Mark Dieser Gutschein wird zu einem durch das Bayerische Staatsministerium der Finanzen im Reichsanzeiger und Bayerischen Staatsanzeiger bekanntzumachenden Zeitpunkte zur Einlösung aufgerufen. Ein Jahr nach Ablauf der Einlösungsfrist erlischt jeder Anspruch aus diesem Gutschein. München, den 20. Oktober 1923. BAYERISCHE STAATSBANK Direktorium: |
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The Bayerische Staatsbank's hundred-billion-mark notes were products of the hyperinflationary collapse of autumn 1923, when German prices were doubling in a matter of days. Regional state banks like the Bayerische Staatsbank were authorized to issue emergency currency alongside the Reichsbank precisely because the central printing apparatus could not keep pace with demand — notes were being obsolete before the ink dried.
Bavaria's political situation that October was particularly volatile; the state government was briefly at odds with Berlin, and local financial institutions carried unusual weight. This denomination, staggering on its face, was already insufficient for many daily transactions within weeks of issue.